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tv   Forbes on FOX  FOX News  November 19, 2011 11:00am-11:30am EST

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>> busy for shoppers? >> not great i don't think. >> what do you think? >> better than expected. and my wife will single-handedly save the nation. forbes on nox is next. >> a permanent way to fix our debt. make congress work part-time. >> it is time to create a part-time congress pay is cut in half and office budgets are cut in half and in washington d.c. half as long. would perry's plan really cut our debt. i am david asman. we'll go in focus with steve and elizabeth and victoria and mark and rick. steve, you are a perry guy and like the flat tax idea. how about this one? >> it is a good idea.
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less congress meets, the safer the republic is. and longer congress meets, more the government gets gummed up. a flat tax and undo obama care. the less they go to washington the better. they didn't know about air-conditioning that allow them to stay through the summer. >> mark, the less we see of these guys, the better? >> you know, david, it is spoken. perry is a part-time governor who is a ceremonial government and has little power and spoken like a person who works part-time with not much understanding of the complexity of federal government and how it is run. we have a 3.6 trillion dollar budget and two million employees in the federal government. how are we going to solve the problems on a part-time basis? it is a bigger economy now than when we started the country.
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>> bottom line, rich, would it help or hurt having these guys guys work time. >> i think governor perry's heart is in the wrong place. if you are a broke know sports team or business or government you fix the tax code and stabilize the dollar and de-fund bureaucracies . if you do that, you will see how much work is left over for the congress people to do. and the answer is a lot less. are you for or against it. and i do think it is in washington d.c.. i wish these people would spend more time reading the bills that we pass.
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is there a way we get a study period for them where they go in the library and forced to read the bills that they are about to pass. >> you can't read them. each one is over 2000 pages. is it a good idea. part-time congress. >> i continuing is a good idea. the president is campaigning on a do-nothing congress. yeah, something doing anything. texas meets every other year for 140 days and that's how much time full-time congress spends on the floor every five years and so if the issue is congress meets too often and government has grown out of control and if you go down the dc hallways, you can shoot an arrow and not hit everybody. texas' economy is doing nicely. >> rick, that was the original idea of our founding fathers to have it a part-time job. >> this is a idea that might
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be best forgotten. if you are a do nothing congress yeah, do nothing. if you are going to function in the way we need congress to function, there isle work to be done 365 days a year. >> the point is, they are doing too much and getting involved too much in our personal lives and business. >> yeah, leave the light bulbs alone. we can choose them ourselves. heck, these guys can't pass a budget. whether sevendays oring willy days. it is parkinson law work expands to fill the time. they might do something positive. >> they are there so often. they are looking at baseball steroids for god's sakes. they are in all sorts of things they shouldn't be into. >> i agree there is a problem in washington. i don't know if this is the way to fix it. i like the idea of turning off
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the air condition maybe bring back the mosquitos as well >> rich, are we better off when congress is not there. stock records and stock market tends to go up when congress is out of town. >> you know, there are a bunch of moral hams who love to give speeches to empty rooms on c-span. and they occupy the day when they are not raising money and carving out an exemption. and victoria has it right. complexity of legislation today is a huge problem. why is it complex? because the tax code is complex and bureaucracies are complex. if you simplify those you reduce the amount of work to do. >> if they were not working all of the time, they would not be making these things that are complex. maybe they would come wup a
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three page bill instead of 2000. >> how do you get them to simplify and stop doing things and meet every other year. when regulators pass rules. it incentizes them to grow bureaucracy. >> we found out ge paid no taxes. something like 50,000 pages of tax forms. >> i know. >> that is how complex the tax code is become. >> it is infurerating that that goes on. it is not a function of time. but a custom of how the system is ranked. you have special interest whether it will be wall street or unions that is deciding the tax code. >> given more every year. and it is becoming a game. to me, we need to fix that.
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>> so having a special session of congress simplify the tax code and reduce the bureaucracy. and double their pay less time they meet. >> mark, what do you think of that idea? >> it needs to be simplified and i would like to sit on the porch and smoke a pipe and have a farm and not drive to work and buy gasoline. we don't have a simple commempt we can't harken back to the days was removing everything and get rid of it. >> rick, what about emax point. texas is doing better in job creation. >> the united states, the united states is not texas. look simplicity is greatt but government is not simple. i want to know the last time steve changed a light bulb. >> last night.
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>> okay, there you go. last night. >> and we have the incandescant light bulbs. i did the same thing. >> as you are getting ready to hitet road for the holidays, is the government filling up the price. and first, forget penn state. cut off all tax dollars to all public colleges . 967. i got mine in iraq, 2003. u.s.a.a. autonsurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. ben your lega. get an auto insurance quote. u.s.a.a. we know what it means to serve.
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>> good morning,y everyone. lich from america's news headquarterings. i am jamie colby. the capture of moammar qaddafi son seif al islam. it is a seif in a hospital bed. he is facing crimes against humanity. a libya spokesperson said he
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will be tried in libya. and there is new video of deadly wildfires that forced 10,000 people to evacuate their home in nevada. firefighters say they are making progress beating back the flames that were fueled by high winds. the fire is blamed for one death. a man had a heart attack trying to flee. 1600 residents were rushed to the hospital. and i will see you again at 1:00 eastern. all eyes on how much money taxpayers are giving to penn state university these days and fired football coach joe paterno 6-figure pension. this is how much the average public college gets every year from the government. amazing. cut all taxpayer money to the
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colleges. >> yes, they are hurting the american family with the tuition increases that they spend on college bling or do nothing college burrcrat they act like donald trump mini mes and not lowering tuition. every nickel that they raise tuition costs they should get a reduction from the next tax because they are nonprofit. >> what do you think about this? >> the federal government spends 30 billion with a b on federal aid to educational institution. most of the money comes from state and every dollar and tax money spent, there is an 8-14 multiflier in economic activity that is generated by the public universities it doesn't make sense to remove the tax money. we ought to be looking at the defense budget. >> we are looking at the
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defense budget and that may be cut back. >> look at that bucket. >> look at just the pension. we mentioned joe paterno and the vice-president of this president gary schulz got half million for leaving and 330, i a year. and he's just the vice-president. that is ridiculous . i totally disagree with mark. why are we investing taxpayer dollars in educational system that are not preparing our kids for today's society. i talked to a ceo said there were plenty of jobs. microsoft and apple have jobs available. >> that is not true. >> these universities are not preparing our kids for the future. we need to turn it upside down and invest in innovative forms of edcage . >> what do you think?
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>> it sounds so great, right. penn state. let's just ban tax money to everything. and any time you pull out a ban on everything. all you are showing you have no idea how to fix the problem . that is not the worry. >> more money doesn't fix the problem. >> but suddenly cut off all funding to the universities is ridiculous. >> they are not training our kids. >> hold on. particularly students from low income families to get a secondary education. well is not enough accountability. more and more money is going to lucrative pensions and making sure teachers can take time ouv and get the doctorial theses and not educating the children. >> steve. >> what about the rock climbing walls. >> they do have income and the expenses balance with the income. maybe they wouldn't need
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government support. >> tuition are going up four times the pace of inflation and twice the pace of health care costs. on the state level why not a voucher to the kid. and in state you shop which institution is best and say we are giving more value for your money . a think the bling would go away. >> are you supporting a vp giting half million for walking away and 330,000 a year in pension. is that a good thing in >> there is problem. >> that is a lot of the money. >> i agree with steve and i agree with michael. but the reason we are not producing the kinds of jobs out there, employers are not paying the kind of wages. >> that's not true. the reason why we have students in the occupy -- >> hold on. >> one at a time.
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>> there needs to be accountability. >> and the reason why we have occupy wall street is partly because students know that their college debt grew five times since 1999 and disposable income is up 73 percent. i say make universities pay more and watch for every person. hang on a second, mark. please, please. >> mark, mark. >> i say go ahead and make universities pay more in taxes because they are nonprofit. and make them pay more in taxes for the increase that they are hitting the american family. >> keeping government money in the universities we have a chance to influence them and fix them. they have tenure and they have professors teaching 17th russian lit rur and change it for teachers who teach engineering. >> dennis has an idea of incent vising than cutting
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government money. >> nothing has worked so far. we have waiting list for classes of recreation. and university in texas competing for the biggest rock wall and trying to attract students based on the rock wall. cut them off until they change their approaches to luring students to the educational facilities. >> steve final word. >> vouchers would work. parents and kids would contribute and look. where to getet fattest education and best. and how about three years a lot of parents and kids would sign up for that. >> more cities evicting occupying wall street protestors, is it a victory for capitalism?
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at bank of america, we're lending and investing in communities across the country, from helping to revitalize a neighborhood in brooklyn to financing industries that are creating jobs in boston or providing funding for the expansion of a local business serving a diverse seattle community and supporting training programs for tomorrow's workforce in los angeles. because the more we can do in local neighborhoods and communities, the more we can help make opportunity possible.
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>> all over america. occupy wall street protestors . stores opening
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>> no more squatting. occupy wall street protestors kicked out of cities all over the u.s.. you say it is true capitalism is winning in the west. >> look at san francisco. our newly elected mayor toured occupy san francisco this week and call would it public health nuisance. and san francisco spca is concerned that it is not a good environment for dogings. i think it is a victory for capitalism. it makes anarchy look bad. >> david, i think it shows
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capitalism is losing. the reason they are protesting we have a bad economy and we have abandoned free market capitalism in this country. it is very few rules and only banking crisis world wide. 1979 to 2009 we have rules and regulations. >> the capitalist tool steve, what do you think. >> it is the rule of law. free markets have a ways to go and why the protestors should be occupying congress and the federal reserve. you got to get rid of the federal reserve and get a stable dollar and get a flat tax and get rid of obama care and the counselry would come back and they could get a job. >> on the record, steve
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forbets is not a tool. it is his magazine that is a capitalist tool. >> appreciate being a tool of capitalism. >> absolutely. >> never watch beevisc and butthead. >> it is a victory for capitalism. but what is going on here. we got tired of the guys. oh, that is cool and they have a good point and after two months and infection and isolated case of and rape. we are sick of their whining. we wanted to insure equal opportunity and they want equal outcome. >> and the publishers of forbes. what do you think? >> it shows that 99 percent are the people who vote for civilization over anarchy. occupy wall street people had
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made one point and stuck to that, they would have the majority on their side. consider this. john paulson made more money in two years than steve jobs at apple made in 30 years. >> that is gambling and taking advantage of government manipulation. when the government gives special favors to a group of people that is wrong. >> yess, everyone here is going to agree with that concept, but the problem is that their message is muldied. they are arguing against bailouts that happened years ago. we need to move on. and there is no solution. what is the alternative. crazy jobs? >> and there is a consensus that that is bad.
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crony capitalism is not what we should be for. >> >> and coming up. more stores trying to lure you in. and informers say stay home and do this instead. buy the stocks that have you gobbling up profits .
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>> so don't go shopping on thanksgiving. enjoy your family and turk yethen buy the stocks and of companies. >> apple has a balance sheet. quen bucks a share in cash. >> kim, do you like apple? >> i see visions of android phones and kindle fire. they are a lower price point. >> i love my dog and you like pet smarts. >> record 50


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